BUSS1000 Lecture Notes - Lecture 12: Intrapreneurship, Customer Retention, Upselling

• School: University of Sydney
• Department: Business Studies
• Course: BUSS1000
• Professor: Steven Hitchcock

Document Summary

Entrepreneur: someone who starts their own business, especially when this involves seeing a new opportunity (cambridge) Intrapreneur: an employee within a large company who takes direct responsibility for turning an idea into a profitable new product, service, business etc. Often instead of leaving to start their own company. The essential act of entrepreneurship is new entry. New entry can be accomplished by entering new or established markets with new or existing goods or services. New entry is act of launching new venture, either by start-up firm, through existing firm or (cid:448)ia (cid:858)i(cid:374)ter(cid:374)al (cid:272)orporate (cid:448)e(cid:374)turi(cid:374)g(cid:859). New entry is central idea underlying concept of entrepreneurship. Entrepreneurs buy at certain prices in present and sell at uncertain prices in the future. Entrepreneur is innovator who implements change within markets through carrying out of new combinations. Conquest of new source of supply of materials or parts. Carrying out of new organization of any industry.